Fresh Start to 2019: From Hobbyist to Entrepreneur

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For many folks, the start of 2019 means the start of a new career path. And sometimes that path may have started from the humblest of beginnings: a hobby.

Consider the story of an old acquaintance of mine. Janelle decided to turn her experience of completing her family’s genealogy into a new career for herself. She enjoyed the project so much she decided that she wanted to help others research their family history. Her plan, as Janelle explained to me at that time, was to move to Europe where she had traveled numerous times and set up shop in Germany to promote her services to American tourists and Europeans. She already knew French and German to communicate with the locals, and because she had researched her own family genealogy, she was familiar with the organizations she would need to contact for research.

Janelle also had saved up enough money to make the move to Germany. Once she had her plan in place, she bought an airline ticket with an open-ended return date good for up to a year. That gave her enough time to test out her business idea.

Janelle is one of thousands of people who have converted a hobby into a new career. But making the jump from hobbyist to a new career takes a major leap of faith and is not to be taken lightly. It takes guts, and it also takes a lot a creativity and planning. Janelle’s move occurred after long, thoughtful consideration of her priorities, abilities and goals. Experts say this thoughtful approach is necessary to make sure you don’t overlook any minor detail.

People choose to turn a hobby into a career for a variety of reasons: to seek more independence, express creativity, have a more flexible schedule, have more free time for family and travel, achieve greater work-life balance, or simply get more enjoyment out of the work they do. Many others do so because they are bored or dissatisfied with their current job, which can often backfire because you are running away from something rather than toward a new venture. Jumping ship to get away from an unpleasant environment without a plan or a safety net can quickly turn into a dead end.

Whatever your hobby may be, there is sure to be a way to earn money from it. Love playing piano? You can give piano lessons or provide musical accompaniment for live stage shows. Bakers can sell cookies at farmers’ markets, bikers can lead tours through the countryside, and writers can conduct writing workshops or help someone publish their life story.

The key to a successful transition from hobbyist to careerist is good planning, just as Janelle did. Experts at Legal Zoom suggest the following tips to successfully turn your hobby into a money-making venture.

* Go slow. Before taking the leap, try a short-term solution. Experiment as a side gig or get one or two steady clients before saying good-bye to your day job. By going slow, the transition is likely to “stick.”

* Establish a financial safety net. Make sure you have enough savings to support you or fall back on until you begin to earn income from your hobby.

* Brainstorm multiple ways to earn money from your interest. If you enjoy acting, consider doing more than just acting in plays. Consider doing voice over work, puppetry shows which require some acting skills, or teach acting classes.

* Have an emotional support system in place. Surround yourself with people who support the work you plan to do. During times of stress or self-doubt, these individuals can be a source of strength.

* Develop a business plan. No money-making venture should start without a business plan, which outlines your business goals and strategies for achieving them. Be sure to review the plan quarterly to make sure you are on track.

* Create a brand for your hobby-turned-business, and stick to it. Think about what you want your business identity to be. What do you want to be known for? Then use that brand to create your business name, logo and website.

* Learn to market yourself. This is especially important if you don’t have a marketing background. If you don’t market yourself, no one will find you or seek out your products or services. If you are uncomfortable with marketing yourself, have someone help you, such as a marketing college graduate looking for experience.

Want more help? Check out the Small Business Administration or local community college for workshops and classes about marketing and business development. SBA also offers a mentoring program to guide you through the startup process.

As the saying goes, “Do what you love and the money will follow.” By following these helpful tips, you can turn your passion into a more satisfying career that gives you greater independence, flexibility and creativity.

Business Lessons from the World Series Champions Chicago Cubs

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It’s been nearly a week since the Chicago Cubs clinched the World Series championship, ending 108 years of futility on the baseball field and finally putting to rest any further talk of goats and curses. While still in the throes of celebrating their victory, it’s also helpful to look at their rise to the top of the baseball world. What can we all learn from the Cubs’ championship run? How can we apply these lessons to our businesses and our work life? Here are a few of my observations.

* If things aren’t working out, start over. Sometimes you have to take a step back in order to move forward. That means cutting the dead wood, so to speak, letting go of the pieces that no longer work, fixing what can be fixed, and rebuilding the business from the ground up.

In the case of the Cubs, that process started at the top rather than the bottom of the organization.  A change in ownership in 2009 brought the Ricketts family on board, followed by the hiring of Theo Epstein and Jeb Hoyer to manage the team’s operations and begin the rebuilding process with the players.  With each new trade and draft pick, the Cubs slowly created a team that was built to win for the long term.

* You may need to go through a few lean years before seeing results. Like any other business, you have to take a few risks and make some tough decisions that may not be popular with your clients. For several years, the Cubs did not have a good team on the field. In 2011, they lost 100 games and fans were doubtful of the changes the Cubs leadership was making. But Epstein and Company stayed the course, knowing they had a game plan they were putting into place, and they repeatedly asked fans for patience. The fact is, whether you run a baseball team or a small boutique business, success does not happen overnight.

* Develop a long-term strategy for success. Create a strong vision of your business. Write down your business goals, and figure out how to achieve them. Develop a detailed plan and make adjustments along the way as needed. The Cubs had a clear vision for the team and knew what it would take to achieve it. Without that detailed plan, owners would have lost faith, and the fans would have too.

* Acquire the best players that can help you achieve your goals. Make sure those team players complement one another in terms of temperament and talent. When they like and respect one another, it’s much easier for them to work together toward a common goal. That likability and respect was on display during the Cubs’ World Series play, both on and off the field.

* Hire a good, strong leader to motivate the team to perform their best. Cubs’ manager Joe Maddon is a master of motivation. He respects his players, and encourages them to have fun, even if they’re on an extended losing streak. A good leader will always bring out the best in your team, so hire the most qualified person you can find.

* Have fun. You don’t want to create an environment of all work and no play. Have fun doing what you are doing, and share that joy with the people you work with. People who infuse humor and fun in their workplace are more productive and are better team players. And that bodes well for the success of your business.

* You need to work hard every day to improve your performance. There is an old saying, “Work comes before success only in the dictionary.” The Cubs have a lot of young players they have drafted over the years. With the assistance of coaches and several veteran players, the young Cubs are still developing their talents, and must continue to work hard each day to learn and grow as individually and as part of a team.

*Savor success and share it with others, especially your clients and your fans. The Cubs’ shared their achievement with their fans in one memorable parade and rally. Likewise, when you meet certain productivity goals, celebrate. Break open a bottle of champagne or treat your team to a pizza party. Recognize the important roles they play in your business success. Without them, your business would likely dry up.

No matter what type of work you do, or how you define success, whether you work for yourself or for an organization, there’s always something to be learned from seeing the success of other organizations. Perhaps the most important lesson to learn from the Cubs’ success is their own motto: Never give up.